Cosco 220409

After my analysis on 15 apr, Cosco went on to hit and exceeded the 11 dec high by 1 cent (1.17 vs 1.18). It seems that the chances of history repeating itself are increasing as Cosco went on to break the crucial 1.10 support on 20 apr.

If you look back to the dec period, after again breaking the 1.10 support, Cosco first traded sideways for about slightly more than 2 weeks, before collasping on 9 jan.

As you can see from the chart, the next crucial support for Cosco would be at 1.05 (lightblue --) where you can see quite a number of trendlines converging at that level. If this support breaks, we could see Cosco heading for the 0.995 (green ...) to 1.00 (blue --) level.

However, if Cosco can maintain at least above the 1.03 support (red --), we may see Cosco re-writing history.


For tomorrow :

Support @ 1.05 (mid blue, lightblue --), 1.04 (mid green, low red), 1.03 (red --), 1.00 (blue --), 0.995 (green ...), 0.965 (low pink, red ...)

Resistance @ 1.06 (mid pink), 1.08 (green --), 1.09 (mid red), 1.10 (blue ...), 1.1055 (upp blue), 1.11 (upp green), 1.12 (upp pink, pink --), 1.17 (upp red, lightblue ...)

Cosco 150409

After my analysis on 9 apr, Cosco blew away all the major resistance and closed right on the 1.12 neckline (pink --) today. Most of the trades were done at 1.04, with buy ups and sell downs split half. The 2nd most trades were done at 1.12, again, with ups and sell downs split half.

Cosco is coming close to testing the 1.17 high it hit on 11 dec 08. Prior to that high, Cosco was also on a similar surging run which saw it rocket from a low of 0.655 on 21 nov, to a high of 1.17 on 11 dec. That is a whopping 0.515 climb in 14 trading days !

Although Cosco's run now is quite similar, the difference is that it took Cosco almost twice the time this round.

Would we see history repeat itself?

For that to happen, Cosco would first have to break the crucial 1.10 support (blue ...).

However, if Cosco manages to stay above the 1.10 support, we could see it trade sideways between the uptrend channel (blue or green) as it attempts to build a base.

Anymore upside in the short term would probably be limited to the 1.17 high of 11 dec.


For tomorrow :

Support @ 1.10 (blue ...), 1.08 (mid pink, mid blue, mid green), 1.05 (low red, lightblue --), 1.03 (red --), 1.00 (blue --), 0.990 (green ...), 0.965 (red ...), 0.950 (green --)

Resistance @ 1.12 (pink --), 1.13 (upp red, upp blue, upp green), 1.15 (upp pink), 1.17 (lightblue ...)

Cosco 090409

Cosco just about managed to stay within the 3 uptrend channels (blue, green and pink) today, after breaking the 3 uptrend supports (mid pink, mid green, and mid blue) yesterday. More importantly, Cosco managed to stay above the 0.950 support (green --).

However, both the uptrend supports (mid pink and mid green) meets the 0.950 support (green --) in the coming week so we could see the 0.950 support being severely tested. If this support breaks, we could see Cosco re-visiting the 0.930 support (lightblue ...), or even the crucial 0.910 support (blue ...). If the 0.910 support breaks as well, we could be looking at the uptrend reversing for Cosco.

Another possible scenario could see Cosco attempt to build a base by trading sideways between the 0.930 support (lightblue ...) and 0.965 resistance (red ...). Any upside would be limited to the 0.990 neckline (green ...) as most of the uptrend resistancesa well as the downtrend resistance (upp red), meet there too.

If Cosco manages to stay above the 0.930 or 0.950 supports, we could see it test the 0.990 neckline (green ...) soon.


For monday :

Support @ 0.950 (green --), 0.935 (mid pink, mid green, mid blue), 0.930 (lightblue ...), 0.910 (blue ...), 0.895 (low red), 0.880 (low pink, lightblue --)

Resistance @ 0.965 (red ...), 0.973 ( upp green), 0.990 (upp blue, upp pink, green ...), 1.00 (upp red, blue --), 1.03 (red --)

Cosco 270309

After my analysis on 25 mar, Cosco broke through several key resistance and also tested the uptrend resistance (upp blue). However, Cosco couldn't build on the momentum and tested the 0.830 support (blue --) today, and also closed right on the 0.840 support (green ...).

Next week could be crucial for Cosco as we see whether it can break the 0.860 level convincingly. As you can see from the chart, the downtrend resistance (upp red) meets the 2 uptrend resistances (upp blue, upp green) at about the 0.860 level.

If Cosco does not break 0.860, we could see it test the 0.830 (blue --) and 0.820 (red --) supports.

If Cosco manages to clear 0.860, there's another formidable roadblock at the 0.870 level (pink --).


For monday :

Support @ 0.840 (green ...), 0.830 (blue --), 0.825 (mid green), 0.820 (red --), 0.815 (mid red, green --), 0.805 (lightblue ...)

Resistance @ 0.850 (red ...), 0.855 (upp green), 0.860 (upp blue, upp red), 0.870 (pink --)

Cosco 250309

Cosco just about stayed within the uptrend channel (green). Cosco also failed to convincingly break the 0.835 resistance (green ...) but managed to stay above the 0.805 support (lightblue ...).

This 0.805 support, as well as the 0.790 support (blue ...), would be crucial for Cosco if it wants to continue and maintain its uptrend momentum.

If these 2 supports break, we might see Cosco test the 0.755 support (green --).


For tomorrow:

Support @ 0.805 (mid green, lightblue ...), 0.790 (upp blue, blue ...), 0.780 (lightblue --), 0.765 (low red), 0.755 (green --)

Resistance @ 0.820 (red --), 0.830 (upp red), 0.835 (green ...), 0.845 (upp green), 0.870 (pink --)

Cosco 200309

Today is the first time in 5 days Cosco broke the 0.730 support (blue --). Cosco also tested the 0.715 support (red ...), the downtrend support (low red) and short term uptrend support (low green). However, Cosco managed to recover late into day to close above the 0.730 support.

It remains to be seen if Cosco can continue to stay above the 0.730 support as you can see the long term downtrend resistance (pink), meeting the 2 uptrend supports (mid blue, low green) at around the 0.723 level sometime next week.


For monday :

Support @ 0.730 (blue --), 0.717 (mid blue), 0.715 (low green, red ...), 0.705 (low red), 0.690 (pink --)
Resistance @ 0.745 (pink), 0.755 (green --), 0.760 (upp green), 0.765 (upp red), 0.780 (lightblue --)

Cosco 130309

Cosco initially opened below the long term downtrend resistance (upp pink), but that soon changed as Cosco surged past several necklines to test the 0.775 neckline (lightblue --) with the highest volume in a month.

As Cosco did not break the short term downtrend resistance (upp red), it remains to be seen if Cosco can maintain its momentum.

We could see Cosco trading between the 0.730 support (blue --) and 0.775 neckline (lightblue --) as it tries to build a base.


For monday :

Support @ 0.755 (green --), 0.735 (mid blue), 0.730 (blue --), 0.710 (red ...), 0.705 (mid red), 0.695 (upp pink)
Resistance @ 0.765 (upp red), 0.775 (lightblue --), 0.785 (upp blue), 0.790 (blue ...), 0.805, 0.820 (red --)

Cosco 090309

Cosco continues to trade within the long term (pink) and short term (red) downtrend channels. Although Cosco opened above the 0.715 support (red ...), it soon succumbed to selling pressure and closed below the 0.715 support.

Quite a lot of people could be caught when Cosco surged on 5 mar. However, since it closed that day on a low, it would have been a signal that the uptrend momentum may not be sustainable. The Doji on the following day (6 mar) would give you an idea to be prepared to cut loss.

If Cosco continues to remain weak, we could see it test 0.670 (pink --) again, which was the low on 3 mar. If that support breaks as well, we could see Cosco head towards the 0.655 level, which is where the 2 downtrend supports meet.


For tomorrow :

Support @ 0.690 (mid blue), 0.680 (low pink), 0.675 (low blue), 0.670 (low red, pink --)
Resistance @ 0.710 (upp blue), 0.715 (red ...), 0.730 (mid red, blue --), 0.745 (upp pink), 0.755 (green --)

Cosco 060309

Cosco had a false breakout on 5 mar as it broke the 1st downtrend resistance (mid red) and tested the 0.755 (green --) and 0.775 (lightblue --) necklines. The uptrend momentum couldn't be sustained and Cosco traded below the 0.730 neckline (blue --) today, forming a Doji.

If Cosco breaks the uptrend support (mid blue), there's a danger it could slip back into the long term downtrend channel (pink). The 0.715 supports looks to be a critical support as the uptrend support (mid blue) meets the downtrend resistance (mid red) at this level sometime next week.

We could be looking at Cosco trading sideways between the 0.730 neckline (blue --) and uptrend support (mid blue). And if Cosco manages to trade above the uptrend support (mid blue), there's a good chance we might see some action next week.

If Cosco breaks the uptrend support, we would likely see a swift return to test the 0.670 support (pink --).


For monday :

Support @ 0.715 (red ...), 0.710 (mid blue), 0.690 (upp pink), 0.680 (low red), 0.670 (low blue, pink --)
Resistance @ 0.730 (blue --), 0.740 (mid red), 0.745 (upp blue), 0.755 (green --), 0.775 (lightblue --)

Cosco 030309

Cosco opened right on the 0.670 support (pink --) today. Although Cosco rebounded today to close above the downtrend support (low red), volume was lesser than yesterday's, so we might be looking at a technical rebound.

If Cosco manages to stay above the downtrend support (low red), we could see it trading between this support and the 0.720 neckline (red ...).

Another scenario could see Cosco trading between the downtrend support and 0.670 support (pink --), which I believe could be most likely.

As you can see from the chart, the 0.670 support is very important as 3 trendlines converge together with the volume support (pink --). So, if the 0.670 breaks, we could see Cosco test the 28 oct low of 60.5 cents at least.


For tomorrow :

Support @ 0.700 (low red), 0.680, 0.670 (blue, pink --), 0.643 (low pink)
Resistance @ 0.720 (red ...), 0.730 (upp pink), 0.735 (mid red), 0.755 (green --), 0.775 (lightblue --)

Cosco 270209

Two days after my analysis (24 feb) on Cosco, it went on to test the 0.755 support (green --). If you had followed my blog, you'd have made some money shorting Cosco. And if you had waited just 2 more days (which is today), you'd have made even more as Cosco closed right on the 0.720 support (red ...).

Cosco continues to trade within the 2 downtrend channels (pink, red). If Cosco breaks the 0.720 support (red ...) we could see Cosco head towards the 0.670 level (pink --), which is where the long term downtrend resistance (upp pink) meets the downtrend support (low red). And this level is also where Cosco formed the double bottom back oct and nov last year.

Near term support looks to be at around 0.700 (low red).


For monday:

Support @ 0.711 (mid red), 0.695 (low red), 0.670 (low pink, pink --)
Resistance @ 0.755 (upp pink, green --), 0.775 (lightblue --), 0.790 (blue ...), 0.815 (red --)

Cosco 240209

Nothing much has changed for Cosco. Just updated the uptrend support trendlines. Cosco is still hanging on to the uptrend support (low blue) some how but I can sense that we should be seeing some action real soon.

AS you can see from the chart, the downtrend resistance (upp pink) meets the uptrend support (low blue) at the 0.775 neckline (lightblue --). If Cosco still does not break out from there, we could be looking at Cosco testing the 0.755 support (green --), or even the 0.720 support (red ...).

If Cosco does indeed break out, we could be looking at least for Cosco to test the 0.815 resistance (red --), and maybe a small probability of testing the 0.835 resistance (green ...).


For tomorrow :

Support @ 0.770 (low blue), 0.765 (mid red), 0.755 (green --), 0.720 (low red, red ...), 0.705 (low pink)

Resistance @ 0.775 (lightblue --), 0.790 (blue ...), 0.793 (upp pink), 0.805 (upp blue), 0.815 (red --), 0.835 (green ...)

Cosco 200209

Cosco ended the week still trading within the long term downtrend channel (pink). Cosco also tested the 0.775 support (lightblue --) before recovering to close right on the short term downtrend support (mid red).

The last time Cosco traded below the 0.800 level was end jan, before it embarked on a short run up to hit the 90s. The 0.775 support could be crucial as it was also from this level that Cosco broke out on 3 dec and went on a spring to 1.17 on 11 dec.

If the 0.775 support (lightblue --) breaks, we could see Cosco heading for the 0.720 support (red ...), which is also where the long term downtrend support (low pink) meets the short term downtrend support (low red).

Any rebound would be weak and limited to the 0.805 level, where the long term downtrend resistance (upp pink) meets the uptrend support (low blue).


For monday :

Support @ 0.780 (mid red), 0.775 (lightblue --), 0.755 (green --), 0.730 (low pink, low red), 0.720 (red ...)
Resistance @ 0.790 (blue ...), 0.805 (low blue), 0.815 (red --), 0.820 (upp pink), 0.835 (green ...), 0.845 (lightblue ...)

Cosco 090209

After breaking the downtrend resistance (upp red) on 4 feb, Cosco went on to break the 0.845 resistance (lightblue ...) 2 days later on 6 feb.

Cosco even opened above the 0.875 resistance (blue --) today, but the uptrend momentum could not be sustained, and it retreated to close just above the 0.845 resistance turned support (lightblue ...). Volume has also been dropping over the last 2 days of trading.

As you can see from the chart, Cosco has quite good volume support at the 0.845 (lightblue ...) and 0.835 (green ...) levels. We could see some profit taking this week, with Cosco trading between the downtrend resistance (upp pink) and the 0.845 and 0.835 supports.

If these 2 supports can hold, we could see Cosco testing the 0.875 resistance (blue --) again soon.

However, if these 2 supports break, we could see Cosco head towards the 0.815 support (red --), or even the 0.790 support (blue ...).


For tomorrow :

Support @ 0.845 (lightblue ...), 0.835 (green ...), 0.815 (red --), 0.790 (blue ...), 0.7835 (low pink, low blue), 0.765 (lightblue --)

Resistance @ 0.870 (upp pink), 0.875 (blue --), 0.8935 (upp blue), 0.925

Cosco 280109

Other than testing the 0.765 support (lightblue --) on 23 jan, Cosco has been trading sideways (accumulation?) for the last 2 weeks. It also seems to have difficulty breaking the 0.815 resistance (red --).

We could see some action later this week or early next week, when the downtrend resistance (upp red) meets the uptrend support (low blue) at the 0.790 neckline (blue ...).

If Cosco does not break out by then, we could see it re-testing the 0.730 support (green ...) at least. If Cosco does break out, we could see it testing the 0.845 resistance (lightblue ...)


For tomorrow :

Support @ 0.790 (blue ...), 0.775 (low blue), 0.765 (lightblue --), 0.730 (green ...), 0.715 (low red)
Resistance @ 0.815 (red --), 0.835 (mid blue), 0.845 (upp red, lightblue ...), 0.875 (blue --)

Cosco 190109

Cosco seems to have found temporary support at the 0.790 level (blue ...), trading between this support and the 0.845 resistance (lightblue ...). Cosco also tested the 0.845 resistance thrice without any success in breaking it.

We could continue to see Cosco trading sideways between the 0.790 support and 0.845 resistance for the time being.

If the 0.790 support breaks, we could see Cosco testing the 0.765 support (lightblue --), which is also where the downtrend resistance (mid red) meets the uptrend support (low blue). If the 0.765 support breaks, next support looks to be at 0.730 (green ...).


For tomorrow :

Support @ 0.825 (mid blue), 0.815 (red --), 0.790 (blue ...), 0.785 (mid red), 0.765 (low blue, lightblue --)
Resistance @ 0.845 (lightblue ...), 0.875 (upp blue, blue --), 0.900

Cosco 130109

The 0.790 support (blue ...) seems to be holding quite well for Cosco for the time being. However, Cosco closed below the 0.815 neckline (red --). And as you can see from the chart, this neckline can prove hard to overcome as quite a lot of people are trapped (based on the volume distribution bar).

So, if Cosco doesn't break the 0.815 neckline soon, we could see it softening further, at least to the 0.765 support (lightblue --), which is also where the downtrend resistance (mid red) meets the uptrend support (low blue).


For tomorrow :

Support @ 0.790 (blue ...), 0.765 (lightblue --), 0.750 (low blue), 0.735 (low red), 0.730 (green ...)
Resistance @ 0.815 (red --), 0.845 (mid red, lightblue ...), 0.860 (upp blue), 0.875 (blue --)

Cosco 060109

Cosco continues to trade within the uptrend channel (blue), almost testing the 0.930 support (pink --) today. Cosco also broke the 1st uptrend resistance (mid blue) with volume, testing the 1.03 resistance (green ...), before closing right on the 1.00 neckline (red ...).

Where is Cosco heading?

Frankly speaking, it isn't too clear. Volume done today peaked at 62m over the last 5 days of trading, with no one particular price level having exceptionally large volume done. What I can see from the chart is that if Cosco manages to break the 1.00 neckline (red ...) convincingly, we could see it heading at least to the 1.10 neckline (lightblue --).

However, if Cosco fails to break the 1.00 neckline this week, we could see it retracing back at least to the 0.950 level, where the uptrend support (low blue) meets the downtrend resistance (upp red), or back to the 0.930 support (pink --). And if the 0.930 support breaks, it'll be back to the 0.870 support (blue --).


For tomorrow :

Support @ 1.00 (mid blue, red ...), 0.975 (upp red, green --), 0.950, 0.930 (low blue, pink --), 0.870 (blue --)
Resistance @ 1.00 (mid blue, red ...), 1.03 (green ...), 1.06, 1.10 (lightblue --)

Cosco 020109

After breaking the 1.00 resistance (red ...) on 30 dec, Cosco quickly reversed and lost all its gain the next day. Cosco even opened the new year with a break in the 0.930 support (pink --).

If Cosco fails to stay above the 0.930 neckline (pink --), we could see it weakening further, breaking the uptrend support (low blue), and even testing the 0.870 support (blue --).

Another scenario could see Cosco trading sideways between the 0.930 neckline and 0.975 resistance (green --). Any upside would probably be limited to the 0.990 level, where the downtrend resistance (upp red) meets the uptrend resistance (upp blue).


For monday :

Support @ 0.910 (low blue), 0.870 (blue --), 0.845 (lightblue ...), 0.835 (low red), 0.815 (red --)
Resistance @ 0.930 (pink --), 0.975 (green --), 0.980 upp blue), 1.00 (upp red, red ...)

Cosco 231208

After hitting a high of 1.17 on 11 dec, Cosco has now retreated to the peak (pink --) of the double-bottom, which was where it broke out from on 10 dec. Along the way down, Cosco did not even come near to testing the downtrend resistance (upp red) even once.

This week could be crucial for Cosco as it would need to hold onto the 0.930 support (pink --) for any chance of a rebound. However, even if there is a rebound, Cosco would face lots of resistance from 0.980 to 1.00.

If the 0.930 breaks, which I think would be likely, we could see Cosco retreating to the 0.870 support (blue --). Further weakening could even see Cosco retreating all the way to the 0.800 level, which is where the 2 downtrend support (low red, low pink) meet.


For tomorrow :

Support @ 0.930 (pink --), 0.910, 0.870 (blue --), 0.860 (low pink), 0.845 (lightblue ...), 0.835 (low red), 0.815 (red --)

Resistance @ 0.950 (low blue), 0.990 (upp pink), 1.00 (upp blue, red ...), 1.02 (upp red)